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Economic Overview: State of the Global Economy


Introduction

The general trend in the global economy has been a decline, including lower global investment rates. Even emerging giants such as China, have experienced slower growth than in previous years.
How has the global economy fared
and what are the future projections?

What is the breakdown of skill levels of the labour force in eThekwini?


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Projected GDP Growth 2019 (Global)
data_projected-gdp-growth-2019_global Created with Sketch. 3.2% 3.1% 3.0% 2.9% 2.8% 2.7% 2.6% 2.5% 2.4% 2018 2019 2020 2.8% 2.9% 3.0%
Source: World Bank, 2019

Countries relying on commodity exports are expected to slow as well. Growth in many other economies are also anticipated to decelerate. Emerging markets are displaying worrying trends toward indebtedness, with some of South Africa and Durban’s export partners ranging in between 60% - 125% outstanding debt to GDP.


Conclusion

The global economy is under significant pressure, partly due to the economic performance and decisions of economic powerhouses (such as China and the USA), which much of the global economy is dependent on. The challenge remains for South Africa to develop resilience and diversification beyond markets which it is traditionally dependent upon; such as China and the USA.
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